Cero Therapeutics Holdings Inc. has announced a private placement, entering into a Securities Purchase Agreement with certain accredited investors for the sale of up to 9,750 shares of its Series E convertible preferred stock, raising up to $7 million in total. Approximately $1.8 million will be funded at the first closing, with additional closings subject to mutual agreement and customary conditions. As part of the agreement, holders of the company's outstanding Series C and Series D convertible preferred stock have consented to the issuance of the Series E shares on a pari passu basis, in exchange for a reduction in the conversion price of their shares to $1.76. The Series E preferred stock holders will also receive purchase rights if the company issues similar rights to common stockholders in the future.